Investing in land is comparatively cheaper than investing in flats/ commercial spaces because of the construction cost involved. You can use the land to your own benefit and gain flexibility over its construction options. Purchasing land is convenient because you can buy land now and even develop it later. Return on investment is highly profitable in the long run. Land can be leased for commercial activities. Land requires less maintenance cost.

Valuation of property simply means arriving at the actual prevailing cost of the property. It could depend upon a number of parameters, of which, location of property being the most important. One needs to consider other parameters such as the age of property, projects available, facilities offered and the sizes available in that project. The latest transaction price of a similar property needs to be considered to arrive at the closest value of the given property.

Typically, if a real estate agent is asked to judge the value of a piece of property, he would do so based on information of recent sales or purchases of similar properties in that area. Though this may give a fair idea of the property’s market value, an official property valuation would carry more weight.